Cornerstone Capital Management Holdings LLC. raised its holdings in shares of American Tower Corp (NYSE:AMT) by 2.8% in the fourth quarter, HoldingsChannel reports. The firm owned 314,382 shares of the real estate investment trust’s stock after buying an additional 8,537 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in American Tower were worth $44,851,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC grew its position in shares of American Tower by 5.4% in the 3rd quarter. Janus Henderson Group PLC now owns 7,868,533 shares of the real estate investment trust’s stock worth $1,075,458,000 after acquiring an additional 400,117 shares in the last quarter. Edgewood Management LLC grew its position in shares of American Tower by 1.6% in the 3rd quarter. Edgewood Management LLC now owns 6,326,717 shares of the real estate investment trust’s stock worth $864,736,000 after acquiring an additional 99,052 shares in the last quarter. Geode Capital Management LLC grew its position in shares of American Tower by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 4,113,653 shares of the real estate investment trust’s stock worth $585,539,000 after acquiring an additional 136,669 shares in the last quarter. American Century Companies Inc. grew its position in shares of American Tower by 1.5% in the 4th quarter. American Century Companies Inc. now owns 3,248,232 shares of the real estate investment trust’s stock worth $463,425,000 after acquiring an additional 46,708 shares in the last quarter. Finally, Commonwealth Bank of Australia grew its position in shares of American Tower by 26.1% in the 3rd quarter. Commonwealth Bank of Australia now owns 2,790,646 shares of the real estate investment trust’s stock worth $380,074,000 after acquiring an additional 577,069 shares in the last quarter. Institutional investors own 92.52% of the company’s stock.

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Shares of American Tower Corp (AMT) opened at $145.08 on Tuesday. The stock has a market capitalization of $63,297.39, a P/E ratio of 21.82, a P/E/G ratio of 1.61 and a beta of 0.80. American Tower Corp has a 1-year low of $113.21 and a 1-year high of $155.28. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.25 and a quick ratio of 1.25.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.04). The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. American Tower had a return on equity of 17.20% and a net margin of 18.31%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business posted $1.52 EPS. analysts forecast that American Tower Corp will post 7.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Wednesday, April 11th will be issued a $0.75 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, April 10th. This represents a $3.00 annualized dividend and a dividend yield of 2.07%. American Tower’s dividend payout ratio (DPR) is 104.87%.

American Tower announced that its Board of Directors has authorized a stock repurchase plan on Thursday, December 7th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Several research analysts have recently commented on the company. KeyCorp reiterated an “overweight” rating and issued a $177.00 target price (up previously from $156.00) on shares of American Tower in a research report on Monday, November 27th. Morgan Stanley lifted their target price on American Tower from $155.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 14th. ValuEngine lowered American Tower from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded American Tower from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research report on Tuesday, January 2nd. Finally, Citigroup decreased their target price on American Tower from $169.00 to $162.00 and set a “buy” rating for the company in a research report on Monday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $157.87.

In other American Tower news, Director Samme L. Thompson sold 5,000 shares of American Tower stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $143.16, for a total transaction of $715,800.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David E. Sharbutt sold 1,584 shares of American Tower stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $144.44, for a total value of $228,792.96. Following the sale, the director now directly owns 4,861 shares in the company, valued at approximately $702,122.84. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

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